Sanatana Resources Inc.
TSX VENTURE : STA

Sanatana Resources Inc.

September 04, 2014 08:45 ET

Cote Gold Project Easement Dispute Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 4, 2014) - Sanatana Resources Inc. ("Sanatana" or the "Company") (TSX VENTURE:STA) announces, further to its news release dated May 9, 2014, that Trelawney Mining and Exploration Inc. ("Trelawney") and Sanatana made their respective supplemental filings (together, the "Supplemental Filings") required by the Ontario Mining and Lands Commissioner's ("MLC") order of May 8, 2014.

Trelawney subsequently filed a preliminary motion with the MLC seeking, among other things:

  • a right to file materials in reply to Sanatana's supplemental filing of August 8, 2014;

  • an order granting Trelawney the right to examine for discovery a representative of Sanatana; and

  • costs of the motion.

Sanatana opposes Trelawney's preliminary motion on a number of grounds. The MLC has scheduled Monday, September 15, 2014, for the hearing of the preliminary motion. In addition to the matters contemplated in Trelawney's preliminary motion, it is expected that the MLC will endeavour to finalize the dates for the hearing of the easement application.

Peter Miles, Chief Executive Officer of Sanatana, stated: "Trelawney, a wholly-owned subsidiary of IAMGOLD, initially filed its easement application with the Mining and Lands Commissioner in April of 2013. More than one year after initiating the easement application, and submitting at least four different proposals for easements, it is our view that Trelawney remains unable to satisfy any of the requirements for an easement under section 175 of the Mining Act (Ontario). We oppose Trelawney's preliminary motion for a number of reasons and we look forward to addressing the preliminary motion and finally setting this matter down for a hearing before the Mining and Lands Commissioner. We will release further news releases as information becomes available."

About the Easement Dispute and Supplementary Filings

Particulars of Trelawney's easement application are posted to Sanatana's website (www.sanatanaresources.com) under the section entitled "Easement Dispute". For convenience, the Company has also posted to its website copies of all of the MLC's orders with respect to the easement application. The Company will also post to its website copies of the Supplemental Filings (redacted for confidential information).

About the Company

Sanatana Resources Inc. is a Canadian mineral exploration and development company focused on its Watershed Property in Ontario. Sanatana entered into an option and joint venture agreement with Trelawney Augen Acquisition Corp. (formerly Augen Gold Corp.) ("TAAC") which grants Sanatana an option to acquire up to 51% of the Watershed Property consisting of 46 mining claims totalling approximately 19,006 acres and located within the townships of Yeo, Chester, Neveille and Benneweis. As at November 28, 2012, Sanatana exercised its first option and is the legal and beneficial owner of 50% of the Watershed Property. Sanatana has until March 23, 2016, to decide whether to exercise its right to acquire a further 1% in the Watershed Property.

In June 2012, IAMGOLD Corporation completed its acquisition of Trelawney Mining and Exploration Inc. and became the sole indirect shareholders of TAAC. In 2013, Sanatana expanded the Watershed Property by acquiring, for the sole benefit of Sanatana and TAAC, a 20% interest in three additional mining claims located in Yeo and Chester Townships, Ontario. In addition to the Watershed Property, Sanatana also has exploration property in Saskatchewan. With an experienced management team and board of directors, the Company has the ability required to identify, develop and fund economic mineral properties. Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSX VENTURE:STA).

SANATANA RESOURCES INC.
(signed) "Peter Miles"
Peter Miles
President and Chief Executive Officer

Cautionary Statement Regarding "Forward-Looking" Information

Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "plans", "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Sanatana's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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